The following week could be a pivotal one from the greenback’s perspective. Not only do we have US tier one economic data but we also have a number of key company earnings reports as well as an announcement on monetary policy by the Federal Reserve.
Preliminary 2021 Q1 US GDP is due for release on Thursday, this will be followed by PCE (inflation-related) numbers on Friday. Both releases are important within their own right and could impact the broader market and US dollar in particular.
5 large US tech companies will deliver their 1st quarter results including Facebook, Amazon, Apple, Microsoft, and Alphabet. These will no doubt effect market sentiment and could drive both equity and currency markets.
The Fed will announce its latest views on monetary policy on Wednesday. No material changes are expected but it will be hard for the central bank to avoid the subject of eventually tightening policy with the US economy in such good shape.
Written by Viv Savani. 8:24am, April 26th 2021
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